Why don't more major collections be pedegreed?

Sunshine Rare Coins · January 23, 2008 8:54AM

I have always wondered this question. If you take years to build an amazing collection of coins, why don't you put your name, or the name of your collection on the slab? Many registry sets or collections were not pedigreed when they were sold. (Morse, Madison Jack Lee III and many others.) Even Gary Forseith's Buffalo Nickel collection is not pedigreed. I know we have some major registry collectors on the board.

Also - what are PCGS's rules on pedegreeing slabs? Are they only for top ranking registry sets? Can they pedigree collections that aren't on the registry?

In my opinion, almost every top registry set should be pedigreed, (and Truevuied)

Sunshine Rare Coins · January 23, 2008 9:47AM

ttt

BECOKA · January 23, 2008 9:56AM

I think PCGS states that it has to be complete and ranked in the top 3 to get pedigreed.

I would think that if it came time to sell that unless you were famous many buyers would think that an unknown name on a slab would be annoying.

GoldenEyeNumismatics · January 23, 2008 9:57AM

FYI it's "pedigree," no "pedegree."

Major collections can receive a pedigree upon request (at least that's what I understand). Some people just opt to not do it that way I guess.

GAT · January 23, 2008 9:57AM

Remember what happened to the DuPonts? That's one major reason.

Sunshine Rare Coins · January 23, 2008 10:02AM

but then why don't people use NGC for pedgreeing their collections?

What are their standards?

fcloud · January 23, 2008 10:23AM

The rules can be found on the registry pages under benefits.

Your set must be in the top 5 (although the first time I tried to get one of my sets done they told me "no, it has to be in the top four."
They won't do modern sets (they did my 1950 to date type set which has some moderns in it, so you could see a few from examples such as this.)
I had four (or five??) sets done. I realize some people don't like it while others do. I happen to get a kick out of them.

Link to my 1928 D Dime

Link to my 2007 Jamestown Gold

Here are the rules from the PCGS benefits page..

A valuable pedigree. In the rare coin market a pedigree is a contributing factor in the pride of ownership and value of the coin. Coins from famous collections such as Eliasberg, Norweb, Garrett, etc., usually command a premium in the marketplace. If you participate in the PCGS Set Registry program your set may qualify for the free pedigree service. The free pedigree service policy is as follows:

The set must be 100% complete.
The set must be in the top 5 in the Registry.
PCGS does not pedigree modern Mint and Proof sets (1965-present) or Low Ball sets.
Sets with less than 10 coins may be pedigreed if warranted. The decision will be that of PCGS experts.
The Registry member is responsible for shipping and handling costs.
The fee for pedigrees for upgrades to your set submitted after the initial pedigree is $5 a coin ($20 a coin for coins graded MS or Proof 70.) PCGS will not pedigree duplicate coins. You must submit both the upgraded coin and the coin it will be replacing. The coin that will no longer remain in your set will be reholdered without the pedigree and returned to you along with the newly pedigreed coin. Your set must remain 100% complete and in the top five to qualify.

Bear · January 23, 2008 11:06AM

Unless you are in the company of World Class Collections,

the name of Joe Shmoe ,doesn't carry much value.

WTCG · January 23, 2008 11:13AM

There are a variety of reasons, but some people would rather remain anonymous with their collections than have a coin that could be traced back to them in the future. Other group of coins, such as Jack Lee III weren't part of his collection but rather consisted of mostly his sale inventory.

Sunshine Rare Coins · January 23, 2008 11:19AM

But I still think that it would be cool to have your name on a slab of a coin you own.

fcloud · January 23, 2008 12:10PM

<< But I still think that it would be cool to have your name on a slab of a coin you own. >>

I get a kick out of it, and I know when if I sell anything some people will have it removed while others will leave it. New owners can do what they want.

I also understand why some people think it is dumb, but it is an accompishment to get into the top five and the only cost to have it done is shipping!

pb2y · January 23, 2008 12:16PM

Why pay fees for something already owned?
The coins like cards in poker "speak for themselves".

Zoins · January 23, 2008 4:31PM

Did the Three Rivers Collection get pedigreed?

ahooka454 · January 23, 2008 4:39PM

heres a question for some of you knowledgable types, if i had a coin from a very famous coolection that was named on some holders, could i send in mine and have it pedigree stated on the holder?

BECOKA · January 23, 2008 4:53PM

<< Why pay fees for something already owned?
The coins like cards in poker "speak for themselves". >>

The key point is it is free.

Coxe · January 23, 2008 5:05PM

In this age, with certification and image warehousing (like at Heritage), it hardly makes sense to label with a provenance. It is becoming increasingly easier to establish such without painstaking tracking and recording with potential of irrecoverable loss of such information. And in the end, it is about the coin, not the chain of ownership so much, with scant few exceptions.

So to answer the question, the reason more don't is it is a stupid expense and not worth the trouble. Anyone for whom it would matter can maintain the records or research as they acquire such coins. Any collection of the calibre that traditionally would receive a pedigree, would be a major hassle to get processed. Just shipping is a pain. USPS Registered tops out at $25K per parcel and private armored transport is hardly cheap.

PerryHall · January 23, 2008 8:22PM

<< But I still think that it would be cool to have your name on a slab of a coin you own. >>

If it's that important to you, just buy a Sharpie pen and add your name to your slabs.

Steve27 · January 23, 2008 8:31PM

From the "benefits" section of the Registry info:

"The free pedigree service policy is as follows:

* The set must be 100% complete.
* The set must be in the top 5 in the Registry.
* PCGS does not pedigree modern Mint and Proof sets (1965-present) or Low Ball sets.
* Sets with less than 10 coins may be pedigreed if warranted. The decision will be that of PCGS experts.
* The Registry member is responsible for shipping and handling costs.
* The fee for pedigrees for upgrades to your set submitted after the initial pedigree is $5 a coin ($20 a coin for coins graded MS or Proof 70.) PCGS will not pedigree duplicate coins. You must submit both the upgraded coin and the coin it will be replacing. The coin that will no longer remain in your set will be reholdered without the pedigree and returned to you along with the newly pedigreed coin. Your set must remain 100% complete and in the top five to qualify."

Steve27 · January 23, 2008 8:34PM

I currently have a set which qualifies for the pedigree service, but I don't see any purpose in it.

planetsteve · January 23, 2008 11:58PM

One well-respected dealer told me that they usually have the pedigree removed from the holder before selling -- so that the coin isn't perceived as being another low-ender from the quickly assembled collection of a "plastic buyer."

mrearlygold · January 24, 2008 12:12AM

The Cardinal Collection started out as someones desire to put a "red book" set of early dollars together.

mrearlygold · January 24, 2008 12:14AM

<< One well-respected dealer told me that they usually have the pedigree removed from the holder before selling -- so that the coin isn't perceived as being another low-ender from the quickly assembled collection of a "plastic buyer." >>

Nah, it's usually done to mask what the coin actually sold for at auction.

Pretty sneaky eh?

saintguru · January 24, 2008 12:45AM

<< But I still think that it would be cool to have your name on a slab of a coin you own. >>

Ya know what's funny? Your avatar is my pic of my old High Relief.

Indirect irony, huh?

My coins are pedigreed. I have NO idea if it's good or bad. Time will tell.

WTCG · January 24, 2008 3:32AM

<< One well-respected dealer told me that they usually have the pedigree removed from the holder before selling -- so that the coin isn't perceived as being another low-ender from the quickly assembled collection of a "plastic buyer." >>

That depends on the name that is pedigreed. Most pedigreed names are respectable, but there are several well publicised ones that are notorious for including coins that are very low end for the grade. There is actually one pedigree name in particular that is well known for having coins downgrade upon resubmission.

Why don't more major collections be pedegreed?

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